What is the primary responsibility of a cooperative review board when evaluating applications?

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Study for the Real Estate Course 3 Exam. Enhance your skills with comprehensive flashcards and multiple-choice questions. Each question comes with hints and explanations. Gear up for your success!

The primary responsibility of a cooperative review board when evaluating applications is to have the authority to approve or reject applications without the need for justification. This means that the board has the discretion to make decisions based on their criteria and guidelines, which may include factors such as the applicant's fit within the community, the board's strategic vision, and other subjective evaluations.

While it is often seen as good practice for boards to communicate reasons for rejection, they are not obligated to provide an explanation, allowing them flexibility in their decision-making process. This autonomy helps maintain the integrity of the cooperative's governance, ensuring that the board can uphold the standards of the community they represent.

In contrast, providing a written explanation for rejections or consulting with existing tenants, although they may be beneficial practices, are not primary responsibilities dictated by the board's role. Additionally, prioritizing applications based on income may not reflect the specific criteria that boards typically consider, which can include a variety of personal, financial, and social factors.

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